Total costs to account for: | |||||
Costs of beginning work in process | 241740 | ||||
Costs incurred this period | 2662740 | ||||
Total costs to account for | 2904480 | ||||
Total costs accounted for | 2904480 | ||||
Difference due to rounding cost/unit | 0 | ||||
Unit reconciliation: | |||||
Units to account for: | |||||
Beginning work in process inventory | 3000 | ||||
Units started this period | 21600 | ||||
Total units to account for | 24600 | ||||
Total units accounted for: | |||||
Units completed and transferred out | 22200 | ||||
Ending work in process | 2400 | ||||
Total units accounted for | 24600 | ||||
Equivalent units of production (EUP)- weighted average method | |||||
Units | %Materials | EUP-Materials | %Conversion | EUP-Conversion | |
Units completed and transferred out | 22200 | 100% | 22200 | 100% | 22200 |
Ending work in process | 2400 | 100% | 2400 | 80% | 1920 |
Total units | 24600 | 24600 | 24120 | ||
Cost per equivalent unit of production | Materials | Conversion | |||
Cost of beginning work in process | 19800 | 221940 | |||
Costs incurred this period | 496800 | 2165940 | |||
Total costs | Costs | 516600 | Costs | 2387880 | |
÷ Equivalent units of production | EUP | 24600 | EUP | 24120 | |
Cost per equivalent unit of production | 21.00 | 99.00 | |||
Total cost accounted for: | |||||
Cost of units transferred out | EUP | Cost per EUP | Total cost | ||
Direct materials | 22200 | 21.00 | 466200 | ||
Conversion | 22200 | 99.00 | 2197800 | ||
Total cost transferred out | 2664000 | ||||
EUP | Cost per EUP | Total cost | |||
Cost of ending work in Process | |||||
Direct materials | 2400 | 21.00 | 50400 | ||
Conversion | 1920 | 99.00 | 190080 | ||
Total Cost of ending work in Process | 240480 | ||||
Total cost accounted for | 2904480 | ||||
2 | |||||
General Journal | Debit | Credit | |||
Finished goods inventory | 2664000 | ||||
Work in Process inventory | 2664000 |
Required information Problem 16-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3,...
Required information Problem 16-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3, P4 [The following information applies to the questions displayed below.) Tamar Co. manufactures a single product in two departments. All direct materials are added at the beginning of the Forming process. Conversion costs are added evenly throughout the process. During May, the Forming department started 22,500 units and transferred 23,200 units of product to the Assembly department Its 3,200 units of beginning work in...
Saved Problem 16-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3, P4 [The following information applies to the questions displayed below.) Tamar Co. manufactures a single product in two departments. All direct materials are added at the beginning of the Forming process. Conversion costs are added evenly throughout the process. During May, the Forming department started 21,700 units and transferred 23,500 units of product to the Assembly department. Its 5,400 units of beginning work in process...
Required information Problem 03-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3, P4 (The following information applies to the questions displayed below.) Tamar Co. manufactures a single product in two departments. All direct materials are added at the beginning of the Forming process. Conversion costs are added evenly throughout the process. During May, the Forming department started 25,200 units and transferred 26,200 units of product to the Assembly department. Its 3,800 units of beginning work in...
Problem 20-3A Weighted Average: Process cost summary; equivalent units LO C2, C3, P4 Fast Co. produces its product through a single processing department. Direct materials are added at the start of production, and conversion costs are added evenly throughout the process. The company uses monthly reporting periods for its weighted-average process costing system. The Work in Process Inventory account has a balance of $106,300 as of October 1, which consists of $23,700 of direct materials and $82,600 of conversion costs....
Required information Problem 16-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3, P4 [The following information applies to the questions displayed below.] Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 22,200 units of product to finished goods inventory. Its 3,000 units of beginning work in process consisted of...
Check my work Problem 16-3A Weighted Average: Process cost summary; equivalent units LO C2, C3, P4 Fast Co. produces its product through a single processing department Direct materials are added at the start of production, and conversion costs are added evenly throughout the process. The company uses monthly reporting periods for its weighted average process costing system. The Work in Process Inventory account has a balance of $90,300 as of October 1, which consists of $18.900 of direct materials and...
Problem 20-3A Weighted Average: Process cost summary; equivalent units LO C2, C3, P4 Fast Co. produces its product through a single processing department. Direct materials are added at the start of production, and conversion costs are added evenly throughout the process. The company uses monthly reporting periods for its welghted average process costing system. The Work In Process Inventory account has a balance of $89,300 as of October 1, which consists of $18,600 of direct materials and $70,700 of conversion...
Required information Problem 20-5AA FIFO: Process cost summary; equivalent units; cost estimates LO C3, C4, P4 [The following information applies to the questions displayed below.] Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 27,700 units of product to finished goods inventory. Its 4,100 units of beginning work in process consisted of $56,115...
Required information Problem 16-7AA FIFO: Process cost summary, equivalent units, cost estimates LO C2, C3, C4, P4 The following information applies to the questions displayed below! Dengo Co. makes a trail mix in two departments roasting and blending Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. During October, the roasting department completed and transferred 25,000 units to the blending department....
Required information Problem 16-5AA FIFO: Process cost summary; equivalent units; cost estimates LO C3, C4, P4 The following information applies to the questions displayed below) Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 33,200 units of product to finished goods inventory. Its 5,200 units of beginning work in process consisted of $113,790...